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  • AU-A AU-A Introduction

    • AU-A.1 AU-A.1 Purpose

      • Executive Summary

        • AU-A.1.1

          The Authorisation Module sets out the CBB's approach to licensing providers of regulated administration services in the Kingdom of Bahrain. It also sets out CBB requirements for approving persons undertaking key functions in those providers.

          May 2011

        • AU-A.1.2

          Licensed providers of regulated administration services are called fund administrators and registrars.

          May 2011

        • AU-A.1.3

          Regulated administration services are defined in Paragraphs AU-1.1.11 and AU-1.1.12.

          May 2011

        • AU-A.1.4

          Persons undertaking certain functions in relation to licensees require prior CBB approval. These functions (called 'controlled functions') include Directors and members of senior management. The controlled functions regime supplements the licensing regime by ensuring that key persons involved in the running of licensees are fit and proper. Those authorised by the CBB to undertake controlled functions are called approved persons.

          May 2011

      • Retaining Authorised Status

        • AU-A.1.5

          The requirements set out in Chapters AU-2 and AU-3 represent the minimum conditions that have to be met in each case, both at the point of authorisation and on an on-going basis thereafter, in order for authorised status to be retained.

          May 2011

      • Legal Basis

        • AU-A.1.6

          This Module contains the Central Bank of Bahrain ('CBB') Directive, Regulations and Resolutions (as amended from time to time) regarding authorisation under Volume 5 of the CBB Rulebook. It is applicable to all licensees (as well as to approved persons), and is issued under the powers available to the CBB under Articles 37 to 42, 44 to 48 and 180 of the Central Bank of Bahrain and Financial Institutions Law 2006 ('CBB Law'). CBB-licensed fund administrators and registrars must also comply with Resolution No. 1 of the year 2007 'new license fees system' (as amended from time to time). The Module also contains requirements governing the conditions of granting a license for the provision of regulated services as prescribed under Resolution No.(43) of 2011 and issued under the powers available to the CBB under Article 44(c). The Module contains requirements under Resolution No.(16) for the year 2012 including the prohibition of marketing financial services pursuant to Article 42 of the CBB Law. This Module contains the prior approval requirements for approved persons under Resolution No (23) of 2015.

          Amended: July 2015
          Amended: January 2013
          Amended: April 2012
          May 2011

        • AU-A.1.7

          For an explanation of the CBB's rule-making powers and different regulatory instruments, see Section UG-1.1.

          May 2011

    • AU-A.2 AU-A.2 Module History

      • Evolution of Module

        • AU-A.2.1

          This Module was first issued in May 2011. Any material changes that have subsequently been made to this Module are annotated with the calendar quarter date in which the change was made: Chapter UG-3 provides further details on Rulebook maintenance and version control.

          May 2011

        • AU-A.2.2

          A list of recent changes made to this Module is provided below:

          Module Ref. Change Date Description of Changes
          AU-A.1.6 04/2012 Legal basis updated to reflect all Articles of the CBB Law covered by this Module as well as applicable Resolutions.
          AU-1.1.4 and AU-1.1.5 04/2012 Clarified licensing requirements for those licensees already licensed under another Volume of the CBB Rulebook.
          AU-4.3 04/2012 Clarified language on cancellation of a license to be in line with other Volumes of the CBB Rulebook.
          AU-A.1.6 01/2013 Updated legal basis.
          AU-1.1 01/2013 References added to requirements under Resolution No.(16) for the year 2012.
          AU-1.2.3 01/2013 Clarified approval requirements for controlled functions for Bahrain operations.
          AU-4.3.4A 01/2013 Corrected cross reference to CBB Law.
          AU-5.2 07/2013 Amended due date and collection process for annual license fee.
          AU-A.1.6 07/2015 Legal basis updated to reflect Resolution No (23) of 2015.
          AU-4.2 07/2015 Amended to be in line with Resolution No (23) of 2015 on Prior Approval Requirements for Approved Persons.
          AU-4.3.5 07/2015 Clarified interim arrangements for replacement of approved persons.
          AU-1.2 01/2016 Clarified general requirements for approved persons.
          AU-2.4.4 01/2016 Paragraph deleted as it is not applicable for this Module.
          AU-3 01/2016 Amended to be in line with Resolution No (23) of 2015 on Prior Approval Requirements for Approved Persons.
          AU-4.2 01/2016 Minor amendments to be aligned with other Volumes of the Rulebook.
          AU-4.4 07/2017 Added new Section on Publication of the Decision to Grant, Cancel or Amend a License.
          AU-4.1.1 04/2018 Amended Paragraph.
          AU-4.1.17 04/2018 Amended Paragraph.
          AU-4.2.2 04/2018 Amended Paragraph.
          AU-4.1.1 07/2019 Amended Paragraph to remove references to hardcopy Form 1 submission to online submission.
          AU-4.1.20 10/2019 Changed from Rule to Guidance.
          AU-4.1.21 10/2019 Changed from Rule to Guidance.
          AU-4.1.22 10/2019 Changed from Rule to Guidance.
          AU-4.4.1 10/2019 Changed from Rule to Guidance.
          AU-4.2.10A 01/2021 Added a new Paragraph on compliance of approved persons with the fit and proper requirement.